Rick,I have just refinanced a client with a lender and they certainly discriminated on age (think little green dragon) as the clients easily serviced, no debt, one 55 and other 65, LVR was only going to be <50%. After many hoops (most simply ludicrous) they said they would not lend 1 cent. After threats of going to the discrimination commissioner,…[Read more]

They have a strategy that worked well for them back in the 90's when they started and finance was easier to get.I had a client who I introduced to TIC and he purchased a property from them, but it was a second hand unit on Gold Coast (which is not their normal property type). He would not use them again. I am not a big fan of large house…[Read more]

Toyah,Have you considered whether you can refinance and extract equity?I would look at freeing some equity and depending on your borrowing capacity, purchase again or do a development or renovation if any of the properties need it and the numbers make sense.You can also then use debt recycling techniques to increase your available cash flow.Good luckGreg

Enzo,It may simply be that you are going through the banks business channel rather than the residential channel.They have different rules even if it is the same property.For a 2 unit development, you should be able to use the residential channel for this and they will do 80% lends.Good luckGreg

I did some work for a client a little while ago, she had a PPOR with mortgage $277k and $170k in offset. We refinanced and set up a LOC facility for her of another $120k. She then got a loan with another lender to fund the purchase of an IP (loan $360k). She used $90k of the LOC to fund the deposit and costs.The after tax difference in doing this…[Read more]

Slallen,I agree with Richard, get the pre-approval in writing before you purchase.You appear to have sufficient overall equity to refinance but the difficulty is the 2 IP's with Homeside are already at 77% and your PPOR is at 76%, so not allowing much room to move. Refinancing at > 80% brings in the mortgage insurers and you need a reasonably…[Read more]

CBA must have the worst offset account available.I agree with you, look to swap lenders for your existing property and set up an IO loan with offset and a separate LOC used just for investment purposes. Then use CBA again if you want to to fund the next investment purchase. In that way you can combine debt finance and debt recycling with the use…[Read more]

Salee,I have attended a couple of their 3 days seminars. There is plenty of razz and daz but a significant amount of very useful information. At these events they also have speakers talking on investing in the share market to increase cashflow, some motivation type speakers, a couple of client stories. These are long events but worthwhile. They…[Read more]